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How to make Statement of Comprehensive Income using excel TRUBLESE MULTI-STEP METHOD The nominal accounts of Hazel Lee Co on December 31, 20x1 have the

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How to make Statement of Comprehensive Income using excel

TRUBLESE MULTI-STEP METHOD The nominal accounts of Hazel Lee Co on December 31, 20x1 have the following balances: Accounts Dr. Sales P1,045,000 Interest income 80,000 Gains 30,000 Inventory, beg P80,000 Purchases 300,000 Freight-in 30,000 Purchase returns 15.000 Purchase discounts 27,000 Freight-out 25,000 Sales commission 60,000 Advertising expense 35,000 Salaries expense 350,000 Rent expense 60,000 Depreciation expense 80,000 Utilities expense 40,000 Supplies expense 30,000 Transportation and travel expense 25,000 Insurance expense 10,000 Taxes and licenses 50,000 Interest expense 5,000 Miscellaneous expense 2,000 Loss on the sale of equipment 15,000 Additional information: Ending inventory is P100,000 b. Three-fourths of the salaries, rent, and depreciation expenses pertain to the sales department. The sales department does not share in the other expenses

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